Zhejiang Publishing & Media (SHA:601921) proposed to establish a subsidiary for 100 million yuan, according to a Thursday disclosure on the Shanghai bourse.

The subsidiary, Zhejiang Wending Digital Intelligence Technology, will sell information security equipment and other information technology services.

The Chinese publishing company will also invest 125 million yuan to acquire 99.2% of Zhejiang Publishing Future Venture Capital Fund Partnership (Limited Partnership) as a limited partner. The fund will invest in the research and development of core technology in emerging industries.